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S 1951 107th Congress Senate Energy Administrative procedure Brokers Business records Commerce Commodity Futures Trading Commission Commodity exchanges Commodity prices Congress Congressional reporting requirements Contracts Corporate collapse Crime and Law Enforcement Department of Energy Derivative securities Derivatives regulation Electric power Electric utility rates Energy industries Energy prices

A bill to provide regulatory oversight over energy trading markets, and for other purposes.

Introduced: February 14, 2002 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 14, 2002
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Feb 14, 2002
Sponsor introductory remarks on measure. (CR S859)
Feb 14, 2002
Introduced in Senate
 Plain-English summary Congressional Research Service
Amends the Commodity Exchange Act to repeal: (1) the definition of "exempt commodity"; and (2) the guidelines governing transactions in exempt commodities (thus subjecting to CFTC regulatory oversight formerly exempt commodity transactions).

Directs the Commodity Futures Trading Commission (CFTC) to maintain a liaison with the Federal Energy Regulatory Commission (FERC).

Subjects formerly exempt swap transactions to: (1) CFTC enforcement jurisdiction; and (2) CFTC proscriptions against manipulation of commodity market prices.

Requires eligible trading facilities and systems to comply with CFTC regulations pertaining to: registration, reporting, recordkeeping, and net capital reserves.

Expands the prohibition against fraudulent or misleading contracts to include any member of a contract market (currently any member of a registered entity).

Amends the Department of Energy Organization Act with respect to the recruitment and retention of qualified personnel at FERC. Grants FERC jurisdiction over: (1) energy trading markets; (2) derivatives transactions reflecting electric energy or natural gas prices (including futures, options, forwards and swaps); (3) any person that makes a derivatives transaction; and (4) any operator of an electronic forum in which derivatives transaction are made.

What's happening now February 14, 2002

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2